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Assume the zero-coupon yields on default-free securities are as summarized in the following table:(Click on the following iconin order to copy its contents into a
Assume the zero-coupon yields on default-free securities are as summarized in the following table:(Click on the following iconin order to copy its contents into a spreadsheet.) Maturity (years) 1 2 3 4 5 Zero-coupon YTM 5.30% 5.90% 6.30% 6.60% 6.80% What is the price of a five-year, zero-coupon, default-free security with a face value of $1,000 Question content area bottom Part 1 The price is ___$enter your response here. (Round to the nearest cent.)
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